Professional Skepticism in Auditing: Examples from "If You Need Love, Get a Puppy"

In the case study 'If You Need Love, Get a Puppy: A Case Study on Professional Skepticism and Auditor Independence,' there are several examples of Will's exercise of professional skepticism. Some specific examples include:

Questioning the client's financial statements: Will demonstrates professional skepticism by thoroughly analyzing the client's financial statements and raising concerns about the accuracy and reliability of the information presented. He questions the client's methods for revenue recognition and raises doubts about the client's ability to continue as a going concern.
Challenging management's explanations: Will exercises professional skepticism by challenging management's explanations and justifications for certain accounting practices. He requests additional evidence and documentation to support management's assertions, showing a healthy level of skepticism and not accepting everything at face value.
Conducting further investigation: Will goes beyond the information provided by the client and conducts additional investigation to gather more evidence. He contacts the client's customers and suppliers to verify the accuracy of the reported sales and expenses, ensuring he has a comprehensive understanding of the client's operations.
Considering alternative explanations: Will exercises professional skepticism by considering alternative explanations for the client's financial results. Instead of accepting management's explanations without question, he explores other possibilities and evaluates the likelihood of different scenarios.
Raising concerns to the audit committee: Will demonstrates professional skepticism by raising his concerns to the audit committee. He communicates his doubts about the client's financial statements and management's integrity, ensuring that the audit committee is aware of the potential risks and can take appropriate action.

Overall, these examples highlight Will's exercise of professional skepticism throughout the case study, showing his commitment to maintaining objectivity and diligently challenging the information provided by the client.'}